Band of Traders - Together We Trade 03-05-2022: Fed wrong again & War doesn't make friends
This week in the China Shop, we finally get to talk about something other than the Ukraine invasion (although that still heavily dominated the discussion), as Powell admitted the Fed was wrong, again, and Musk makes his case for man of the year. In Stocks and Options, MCD gets sued by an ice cream machine repair company, BP dumps a 20% stake in Russian company Rosneft and Rivian tries to pull a fast one on preorders. Over in the Crypto Corner, Coinbase and Binance say they won't kick Russians off its exchanges and BTC sees a surge in buying as protection against the falling Ruble. The first week of a new Bet ended and someone other than Random is finally in the lead.
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Links:
Powell Admits Should Have Acted Sooner
Dow Removing All Russian Stocks From Indices
Financial Screws Turned on Russia as Insurers Exit
Zelensky Warns of Dangers of Russian Attacks on Nuclear Facility
Musk Gives Ukraine Starlink Access
Rivian Tries to Hike Price on Preorders, Changes Mind
Coinbase and Binance Resist Calls to Kick Russians Off Crypto Exchanges
BTC Decoupling from US Tech Stocks
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